MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $81.43 Average PT from Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX) has been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $81.43.

Several analysts have recently weighed in on MLTX shares. Wolfe Research cut shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th.

MoonLake Immunotherapeutics Stock Up 0.6 %

MoonLake Immunotherapeutics stock opened at $52.17 on Wednesday. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of -40.44 and a beta of 1.31. The business has a 50-day simple moving average of $50.89 and a 200 day simple moving average of $47.71. MoonLake Immunotherapeutics has a 52 week low of $37.55 and a 52 week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period in the prior year, the firm earned ($0.18) earnings per share. On average, research analysts anticipate that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the completion of the transaction, the director now owns 171,980 shares of the company’s stock, valued at $9,238,765.60. This represents a 49.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 12.02% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently made changes to their positions in MLTX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in MoonLake Immunotherapeutics by 96.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,814 shares of the company’s stock worth $1,806,000 after buying an additional 17,580 shares during the period. Erste Asset Management GmbH bought a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter worth approximately $741,000. Victory Capital Management Inc. lifted its stake in shares of MoonLake Immunotherapeutics by 16.0% in the 2nd quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock valued at $7,681,000 after purchasing an additional 24,037 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of MoonLake Immunotherapeutics by 100.2% during the third quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company’s stock valued at $3,906,000 after purchasing an additional 38,779 shares in the last quarter. Finally, Rice Hall James & Associates LLC purchased a new stake in MoonLake Immunotherapeutics in the third quarter worth $3,805,000. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland.